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This is my last post on it anycase but please explain why you think that the DMR would either accept or decline a mining licence without information which is stated in the 30/8 RNS especially the most important being the finance ?
We don’t know when the information got submitted the latest is the 4th October you’re assuming it got submitted on the 30/8
The DMR STATES:
A mining right is granted if:
* the mineral can be mined optimally
* you have the funds and expertise to conduct the proposed mining operation optimally
* the financing plan is compatible with the intended mining operation and for the duration thereof
* no unacceptable pollution or damage to the environment will occur as a result of the mining operation
* you have made financial and other provisions for the prescribed social and labour plan
* you are not contravening the Mineral and Petroleum Resources Development Act, 2002 (Act 28 of 2002) (MPRDA)
* the operation is in line with the Mining Charter.
The 4th October will be the date the DMR stipulated the deadline otherwise why put it ???
If you’re so engrossed by days etc it also states the following
* If the application is not successful the regional manager will return the application to you within 14 days.
Initially the regional manager can refuse it before the minister !
So it still boils down to the fact that the information has to be submitted by the 4th Oct so how can anything be refused or even looked at prior to the DMR receiving the information?
Here’s a bit of light reading for you jono ! Dtd 9/10
The Commodities Feed: Nickel stocks decline
Nickel stocks: As LME nickel stocks fall further, demand for physical delivery of the metal also grows with fears of short supply. LME nickel stocks declined by 7.4kt yesterday- the second biggest one-day withdrawal on record, and resulting in almost 32kt of nickel being withdrawn over the past week. Current LME nickel inventories stand at 126kt, which is a seven-year low, while another 75.4kt is earmarked for withdrawal in the coming days.
https://think.ing.com/snaps/the-commodities-feed-nickel-stocks-decline/
The 4th comes from the RNS that you have supposed to have read dtd the 30/8 !
“If your application meets all the requirements, the regional manager will notify you in writing within 14 days of receipt “
How can they refuse the mining license on the 29th of September if we have upto the 4th of October to submit all the relevant information ?
Theres a difference between accepting applications and actually looking at granting one !
- Submit, by no later than 4 October:
o Signed shareholder agreements
o Share certificates and shareholder registers;
o Articles and memorandum of association of the company;
o Provide detail in relation to the theoretical full funding of the mine; and
o Any other agreement or document relating to the agreement;
- and commence with environmental studies in order to obtain the requisite environmental authorisations that accompanies the Mining Right.
They can only reply once they receive all the information hence the 14 days I mentioned so the answer to your question is no we shouldn’t have received a RNS imo !
I know you must be bored Jono waiting for news re MRS but I’m afraid you cannot dismiss the RNS dtd 27/9 stating the reasons. and The latest one there is no John Zorbas to blame this time !
If you’re quick you may be able to get an few shares available here !
Ofd I posted this back in August so hopefully we should be hearing sooner ! In regards to finance I agree if you look at below it clearly states provisions have to be in place for finance!
A mining right may not exceed a period of 30 years.
A mining right is granted if:
* the financing plan is compatible with the intended mining operation and for the duration thereof
* you have made financial and other provisions for the prescribed social and labour plan
How long does it take:
* If your application meets all the requirements, the regional manager will notify you in writing within 14 days of receipt of the application if it has been accepted.
So by my reckoning no later than the 18th of October (14 days from the 4th October) we will have a mining license obviously pending the submitted information is acceptable which tbh I cannot see why it wouldn’t be! This includes financials.
https://www.gov.za/services/mining-and-water/apply-mining-right
China’s Tsingshan helped drive record drop in nickel inventory
While the LME’s warehouse network is designed as a last-resort source for exactly this type of supply crisis, the scale of buying could raise concerns about a potential shortfall if the drawdowns continue. Some traders and consumers have been scrambling to pick up metal since early September, when Indonesia confirmed plans to bring forward its ban. But the move last week was surprisingly sharp — the nearly 25,000 tons that left the warehouses was the biggest decline in the four-decade history of the nickel contract.
https://www.mining.com/web/chinas-tsingshan-helped-drive-record-drop-in-nickel-inventories/
It’s definitely a possibility Anto and Ccc is certainly “geared” up to attract interest from the bigger players as it’s a fully vertical integrated seed to sale Cannabis company with dispensaries in the right states.
So it all comes back to their statement back in August 2018 and as Ofd reiterated today :-
“Captor intends to divest itself of all non-cannabis assets over the next 12 month period and in a manner that maximizes shareholder value.”
To be able to “maximise shareholders value “for Ccc it has to be replicated for us as URU shareholders too ?!
Medmen back out of a very large Acquisition!
MedMen terminates $682 million deal to buy Chicago-based marijuana company PharmaCann
It states:
MedMen will increase its focus on its home state of California, where it has licenses for 17 stores.
Could Captor be on their radar bearing in mind Ccc have two dispensaries in California one in Santa Cruz and le Montourey ?! Ccc have already sold two of their Most profitable dispensaries this year to Medmen which were already operating under the Medmen banner !
https://www.google.co.uk/amp/s/www.chicagotribune.com/business/ct-biz-medmen-terminates-deal-to-buy-pharmacann-20191008-js5ngidalrepheb7dhu23cukwu-story.html%3foutputType=amp
Agree ofd it’s getting close but this isn’t nothing new to us the way the almighty one operates ;) forget ducks lining up I think it’s more likely the goose may just be laying the golden egg :) something seems to be “bubbling” in the background?
We received the latest presentation over 5 months ago so you would have thought news cannot be far off especially when we had only $475k in the bank in March !
All the crucial dates seem very close to each other !
1. Mining license application
2. Ccc divesting within 12 months
3. Additional funding for URU
4. MRS Information re funding and the CVA that should have been Friday 4/10 this time he cannot be blamed ?! I do believe his departure and the company arrangement was too close to be coincidental imo!
ATB
Good morning all!
Not to sure Anto how sensitive the CSE are compared to AIM but yes you would have thought by now if it was just to adjust the accounts this would have been done by now ?!
The previous Form 7 mentioned the suspension so it’s strange why there’s no update ? As I stated previously this Form is standard and you add if applicable in bold but even when information should have been added it wasn’t.
The financial year-ended March 31, 2019 (the “Annual Financial Filings”). The delay in filing was the result of a change in the accounting treatment of the Company’s investee companies being required by the Company’s auditors. The required change in treatment arose just prior to the completion of the audit and the filing deadline of July 29, 2019, leaving insufficient time to address the auditor’s comments before that deadline.
So ofd they have four months to issue yearend unlike our which is six
If you look at 3.2 (a)it states:-
3.2 (a) Subject to section 5.3 for Inactive Issuers, if a Listed Issuer which has had its securities suspended pursuant to this Policy 3 or otherwise has, within 90 days from the date of such suspension,
So we are roughly into 60 days of suspension of the 90 days but
(b) The Exchange will extend the period of suspension for an additional 90 days if the Exchange is satisfied that the Listed Issuer has made progress towards curing the default or breach that gave rise to the suspension.
In regards to delisting :-
4. Delisting
4.1 Following a 90 day suspension the Exchange will, without any prior notice, delist a Listed Issuer’s securities unless the period of suspension has been extended in accordance with Section 3.2(b) of this Policy.
So basically it all depends on individual circumstances how long you can be in suspension normally it’s 90 days unless as states in 3.2 (b)
I hope that helps ?
https://webfiles.thecse.com/resource/CSE_Policy_3_Suspensions_and_Inactive_Issuers.pdf?8xRXkYLxtQ33hB_z8Z.oUnsc0C_y0nu6
Ccc form 7 progress report for August
Nothing has been added and no mention of the suspension it’s almost a blank report the only additional information is in bold
“During August, the Issuer continued its focus on owning and operating its revenue generating cannabis investments.”
https://webfiles.thecse.com/September_2019_CSE_From_7_Captor.pdf?Dnge8osi7uAGynnZk_sTHSELqUs6nY5t
Thanks as always dave for your Information:)
This article dtd 29/9 follows on nicely :
Electric-Car Dreams Could Fall a Nickel Short
Demand for a form of nickel needed in electric-vehicle batteries is starting to outpace supply
Global producers of electric cars have big ambitions and a bigger problem: Supplies of a key material are running short.
And after years of low prices that stalled investment by global miners, nickel supply is falling short of demand. “There’s no new nickel in the pipeline,” said Angela Durrant, principal metals analyst at Wood Mackenzie, a U.K.-based consulting firm.
https://republicofmining.com/2019/09/30/electric-car-dreams-could-fall-a-nickel-short-by-rhiannon-hoyle-wall-street-journal-september-29-2019/
In regards to Ccc ofd we have the Form 7 Progress report due Monday 7th October so surely if they’re still in suspension there must have to give an update on it ?
“This Monthly Progress Report must be posted before the opening of trading on the fifth trading day of each month. “
URU mining information submissions by no later than tomorrow so again it depends on whether the almighty one has got up on the right side of the bed if we get notified but that again should be beneficial for both parties to do so ? Still if not I cannot see why they won’t get the relevant documents submitted as the DMR would have given a set time to do so !
The drill results again must be in as I’ve mentioned previously why apply for a mining license unless they are impressive!
We have MRS update again by no later than tomorrow as much as we’ve never really counted on our investment over there (well me anycase) it would be nice to see it as a positive asset on our books rather than a negative one, and be available if we ever needed to ?! ATB
Thanks diggit couldn’t agree!! Looking forwards to your stats that will be interesting to see what you find.
Thanks also Anto appreciate that ! I suppose you’ll be the one supplying the sausages by the looks of things for the celebration ;) ATB
Thanks diggit glad to hear you are on the mend and there’s plenty of years left in you yet you old git !
Seriously though good health is true wealth. I’ve just spent the day in the oncology department at the children’s hospital with my daughter as she’s had some strange blood tests back recently from a check up but we have been told today all is good so that’s double good news today :)
Just need some good news from the almighty one which hopefully will be within the next two days not forgetting news is due for MRS as well this week ?! ATB GLA
Latest accounts
Page 12/57 states:
“During the 2019 drill campaign, no social and community issues were reported on the Zebediela project. Furthermore, there are no emerging social and community issues related to the project.”
That reads to me that drilling has certainly started if not finished?
Not long until the 4th so I cannot see why we would apply for a mining license unless the latest drills are pretty impressive?
“ the acceptance of the mining right application grants us the flexibility to develop the existing nickel resource into a mine, and to continue developing the newly discovered Ni-PGE resource found adjacent to and in the footwall of the existing nickel resource.”
Just to make a small comparison and to put things into perspective what we are sat on at URU the latest yearend state:
“
“This has led the technical team to conclude that there is potentially 5 km of strike length of Platreef related Ni-Cu-PGE mineralisation, hidden beneath a veneer of cover rocks on the project location. The Platreef is the same horizon that both Anglo American Platinum and Ivanhoe Mines exploit and are aiming to exploit at their respective mines.”
Ivanhoe flagship Flatreef mine has the following:
“Ivanplats’ Flatreef Deposit, with a strike length of six kilometres, lies within a flat to gently dipping portion of the Platreef mineralized belt at relatively shallow depths of approximately 700 to 1,200 metres below surface”
https://www.ivanhoemines.com/site/assets/files/4049/2018-10-08_nr_ivn.pdf
So we’ve got depths of 30m compared to theirs of 800m plus also just compare our basket price per ton of the resources listed.
This is impressive and surely bodes well for little old us ! ATB GLA
I’m liking the yearend there’s certainly a lot of positives included in it. I’ve listed a few below.
I’m also liking the depth to mineralisation comparison, we are only 30m down compared to 800m to some of the majors not forgetting our favourable basket price of US$165.
Surely now Nickel is at a 68% increase compared to 2018 we’re getting some attention from the larger companies?
Hopefully more news to follow in the coming days regarding drill and mining information!
“Excellent progress has been made at our flagship Zebediela Project, and the technical team are confident in their ability to prove up the strike length of the recently discovered Ni-Cu-PGE mineralisation at Zebediela, and develop the project into a world class Ni-PGE project.”
“The past financial year has been a fruitful year for URU, with achievements in fulfilling operational strategies. We are now well positioned to take advantage of potential positive movements in the nickel market.”
“This has led the technical team to conclude that there is potentially 5 km of strike length of Platreef related Ni-Cu-PGE mineralisation, hidden beneath a veneer of cover rocks on the project location. The Platreef is the same horizon that both Anglo American Platinum and Ivanhoe Mines exploit and are aiming to exploit at their respective mines.”
“The high nickel and palladium to platinum ratio in the Platreef mineralisation, found at shallow depths, coupled with the increase in nickel and palladium prices over the past 12 months, make the Zebediela Project an exciting Ni-PGE targets. The close proximity to existing road, rail, power and mining infrastructure bode well for the potential to develop the project into a world-class Ni-Cu-PGE mine and URU remains committed to the responsible development of the project.”
So we’ve got $475k (£387k) in the coffers as of the end of March so that certainly will need topping up ! The question is where’s it coming from ? Cutting it close for a placement considering mining information has to be submitted by Friday ?! ATB